An Uncertain Future: Money Follows the Person (MFP) Program
Since it was established in 2005, the Medicaid Money Follows the Person (MFP) Program has given people with disabilities the choice between living in a long-term care facility or receiving care in their home or a community-based setting. MFP helps provide the...
What’s a Health Care Proxy and Why Do I Need One?
The senior population across the United States has increased to more than 54 million people since 2019. According to the Centers for Disease Control and Prevention, the number of Americans 65 and older will rise to 80.8 million by 2040. As people age, their health...
Free and Inexpensive Meal Delivery Options for Older Adults
Many older adults face difficulties accessing and preparing meals. Yet eating a nutritious diet is essential for maintaining health, particularly as we age. For those with barriers getting to the grocery store and preparing food, meal delivery services can help. Meal...
Medicare Will Now Cover Medically Necessary Dental Care
In November 2022, the Centers for Medicare and Medicaid Services (CMS) announced that Medicare coverage will be expanded to include medically necessary dental services. This change in Medicare rules will allow people with life-threatening conditions to receive dental...
Medicaid Renewals & the Need to Re-Enroll
Recent findings show an information gap among Medicaid recipients regarding the need to re-enroll for benefits after the COVID-19 Public Health Emergency (PHE) ends. Medicaid recipients are inconsistently informed about the end of the PHE and its effect on their...
How to Get Medicaid Coverage for Care at Home
Traditionally, Medicaid has paid for long-term care in a nursing home, but because most individuals would rather be cared for at home and home care is cheaper, all 50 states now have Medicaid programs that offer at least some home care. In some states, even family...
What You Should Know About Required Minimum Distributions
Required Minimum Distributions (RMDs) are the minimum amounts a retirement plan account owner must take out each year. RMDs begin when a person reaches either age 72, 70½ if they reached this age before January 1, 2020, or the year in which a person retires (if after...
What Is the Difference Between Medicaid and Medicare?
Although Medicaid and Medicare are both public health insurance programs, they have essential differences. Medicare is a federal program for older adults, people with disabilities, and individuals with end-stage renal failure. Medicaid is federal-state assistance for...
Does Medicare Cover the Cost of Getting a Second Opinion?
You may be nervous about whether Medicare will cover a second opinion if you wish to confirm whether a medical treatment or surgery is right for you. Given the cost of doctor visits today, the prospect of an out-of-pocket expense for a second opinion is understandably...
IRS: You Can Contribute More to Retirement Starting in 2023
In October 2022, the Internal Revenue Service (IRS) announced contribution limitation adjustments for employee retirement plans in response to inflation. The IRS issued Notice 2022-55, which describes cost-of-living adjustments for retirement and pension plans. The...
Protecting Spouses of Medicaid Applicants: 2023 Guidelines
The Centers for Medicare & Medicaid Services (CMS) has released the 2023 federal guidelines for how much money the spouses of institutionalized Medicaid recipients may keep, as well as related Medicaid figures. What Are Spousal Impoverishment Rules? Spousal...
Getting Medicare Food Benefits
As people age, accessing healthy meals can become more challenging. According to Feeding America, one in five older adults was food-insecure in 2020. Some older adults struggle with affording healthy foods, whereas others have difficulty going to the grocery store and...
Seniors and the Benefits of Downsizing
You spend a large portion of your life and your hard-earned money on the concept of the American dream, buying and living in your forever home. Your home is a special place, filled with memories, love, and laughter. As you age, you might start asking yourself whether...
Pros and Cons of a Medicaid Asset Protection Trust
A Medicaid Asset Protection Trust (MAPT) is one option a person may consider to protect their assets from Medicaid and nursing homes or long-term care. A MAPT is an irrevocable trust created during your lifetime. The primary goal of a MAPT is to transfer assets to it...
Do All the Proceeds From Selling the House Have to Go Toward Memory Care?
Unfortunately, it’s too late to gift. Any gift could be penalized by a period of ineligibility for Medicaid benefits. There are a few exceptions to this rule. One is that transfers may be made to a trust for the sole benefit of a disabled individual. If either you or...